newstodate.aero

Apr 24, 2020 (newstodate): Cabo Verde's dreams for turning the island's main airport into a US/Africa/Europe hub is being shot down by coronavirus.
   The vision centered on developing the ailing national carrier Cabo Verde Airlines in a partnership with the new majority-owner, Iceland's Loftleidir Group.
   Now, Cabo Verde Airlines is again on the brink of bankruptcy while IATA has closed the access to the IATA booking systems.
   Dealing the final blow to the carrier is the full stop to international tourism, where Portugal, Italy and France have been the prime generators of massive flows of incoming tourists.
   In 2017, Loftleidir Icelandic, TACV Cabo Verde Airlines and the Government of Cabo Verde inked a management agreement on the restructuring of the loss-making TACV Cabo Verde Airlines, and in March 2019, Loftleidir Cabo Verde, owned 70 percent by Loftleidir Icelandic ehf, and 30 percent by Icelandic investors, acquired 51 percent of Cabo Verde Airlines.
   Earlier this month, the Government of Cabo Verde suspended plans for the full take-over by Loftleidir Cabo Verde of the national carrier as the parties agreed to postpone the transaction, pending a decision on possible state aid to help the carrier through the ordeal.
   And given the current state of affairs in the industry, Iceland is probably neither capable, nor willing to throw in more money to save the vision.
   Cabo Verde Airlines operates a fleet of four Boeing 757-200 Icelandair-leased aircraft and one Boeing 737-300 - all stuck on ground.